Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bitget−0.146%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1741.742% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.991%+$99 · spread now −0.146%, 7d avg +0.003%

Together, before fees+1.064%+$106 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.150% cheaper against Bitget than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.04096	0.0100	pay 0.0050% / 4h	1h 43m	$1.2M	$2.1M	50x
Short	ApeX Omni SUSDT	0.04090	0.0100	get 0.0013% / 1h	43m 27s	$25K	$449K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → +0.003%: −$14.98
Slippage, 4 orders: −$152.17
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$189.14
Costs to cover: 1.742%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; ApeX Omni: live order book, 19 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bitget live order book, 4 min ago	7.33 bp	24.8 bp −$25	75.1 bp −$751	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 19 min ago	36.90 bp	63.0 bp −$63	doesn't fit	doesn't fit	doesn't fit

S on 25 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SUSD	−1.0792%	1h	0.03950	−3.564%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1677%	1h	0.04096	−0.001%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.807%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0306%	4h	0.04092	−0.103%	$634K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04101	+0.122%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04094	−0.059%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04101	+0.134%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.098%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0066%	4h	0.04099	+0.073%	$102K	$333K	10x	as long as short
Lighter S	+0.0096%	1h	0.04101	+0.122%	$171K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04102	+0.139%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04102	+0.134%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04094	−0.046%	$5.7M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04086	−0.244%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04094	−0.049%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04094	−0.049%	$336K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04094	−0.049%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04095	−0.024%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.04096	long leg	$1.2M	$2.1M	50x
BingX S-USDT	+0.0100%	4h	0.04097	+0.024%	—	$6.7M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04090	−0.146%	$25K	$449K	50x
Extended S-USD	+0.0104%	1h	0.04094	−0.051%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04088	−0.195%	$280K	$111K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0482%	1h	0.04104	+0.195%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1463%	1h	0.04110	+0.342%	$121K	$359K	5x	as long as short